Insurance BPS player Quindell is never one for blowing its own trumpet (ahem). It said the final quarter of 2013 has been ‘extremely positive’, with over £100m of new business confirmed since it raised £200m in a share placing last month (see here). Meanwhile the pipeline within the services division remains at record levels and so Quindell expects to use these funds to fuel further profitable organic growth. Quindell also confirmed that it is on course for its move to the full UK stock market listing, and potential Canadian dual list in the early part of 2014.
Telematics is a key play for Quindell in its services division. The Innovation Group’s announcement this morning of a telematics partnership with smartphone app developer Wunelli, shows the battle lines are being drawn in this emerging space. Quindell is targeting the UK and Canadian market with its in-car solution (see here). Intuitively it is difficult to imagine the future of telematics being in black-boxes which are installed and hard-wired into cars, if there are less invasive smartphone app alternatives. But it is early days for both approaches. It will be fascinating to see how this plays out over the next year or so.